Georgia Agreement to Partition Real Property Between Children of Decedent
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How to fill out Agreement To Partition Real Property Between Children Of Decedent?
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FAQ
Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts or other valuable property together.
It is designed to preserve family wealth passed to the next generation in the form of real proeprty. In Georgia, the Act is codified at O.C.G.A. § 44-6-180 through § 44-6-189.1. Initially, when a partition action is filed, the Act requires the Court to determine whether the property is ?heirs proeprty.? O.C.G.A.
The Uniform Partition of Heirs Property Act governs the partition of inherited property. The purpose of the Act is to protect heirs from unscrupulous speculators who acquire a small partial interest in real property owned by a group of heirs and then force the sale of the property at a below-market price.
Under this system, heirs share ownership of the property as tenants in common. This form of ownership poses several obstacles to realizing the land's full potential and, in certain circumstances, courts will partition the property in forced sales or will physically divide the property among the heirs.
The spouse and children are heirs if there are children as well as the children of any child or children who died before the decedent (as well as the deceased child's descendants if any of the deceased child's children also predeceased the decedent).
Partition Actions When two or more people jointly own a piece of property, and they disagree about how to divide that property, those parties can initiate a partition action. Under Georgia law, a partition is when the court steps into the disagreement and has the land divided by court order.